Bitcoin holding If Banxa still has that amount of Bitcoin it amounts to approximately 2% of the value that it is currently trading for .Anyone who has experience trading in small high tech stocks knows that the Cash burn rate is of critical importance ,if it is high it means the company has to constantly sell stock to raise money (as is currently happening).Growth in revenue is not necessarily important if the company can't generate positive EBITA (ie cash flow)in a period of time .I know lots of high tech companies that grow none profitable cash flow rapidly and end up going bust or being taken over as they can't make a profit to support themselves .
I bought Banxa very early of it trading in the US ,it doubled in a short period of time so I took all my money off the table and just have free shares .I bought before doing my due diligence ,it is important to understand that Banxa is an Australian company whose head office is in Sydney with a branch office in Vancouver whose business is subject to extreme competition and its business is primarily in Australia and Europe ,very little in North America as far as I can see .It has a high cash burn rate (not necessarily a problem yet).Anyone contemplating buying should ignore the booster club and do thier own due diligence by reading information on the Banxa website .The fact that the recent share offering is priced at a major discount to market is not a good sign .
The news out on Friday from Coinbase is in my opinion a very bullish indicator for Voyager since it appears that the giant ipo is being delayed until April.The behavior of Coinbase doing Wash sales to pump Litecoin is not impressive .
Pretty obvious if you check into Voyager versus Banxa which is the better ,safer buy with a better chance for rapid stock price appreciation .It(Voyager) competes with Coinbase but has much lower transaction fees and offers more products .
I own both Banxa and Voyager but have decided that Voyager is safer with a more transparent business model and thus have "free shares in Banxa and less invested than In Voyager .
I cannot emphasize too highly the importance of doing ones own due diligence .It's much easier to loose money than make it in these super spec stocks .